Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

Series

Contracts

Discipline
Institution
Publication Year
Publication

Articles 1 - 30 of 496

Full-Text Articles in Law

From The Courtroom To The Classroom: How A Litigator Became A Transactional Drafting Professor, Amy Bauer Jan 2019

From The Courtroom To The Classroom: How A Litigator Became A Transactional Drafting Professor, Amy Bauer

Articles

No abstract provided.


The Good, The Bad, And The Ugly Of Online Reviews: The Trouble With Trolls And A Role For Contract Law After The Consumer Review Fairness Act, Wayne Barnes Jan 2019

The Good, The Bad, And The Ugly Of Online Reviews: The Trouble With Trolls And A Role For Contract Law After The Consumer Review Fairness Act, Wayne Barnes

Faculty Scholarship

The advent of the Internet has brought innumerable innovations to our lives. Among the innovations is the meteoric rise in the volume of e-commerce conducted on the Internet. Correspondingly, consumer-posted information about merchants, goods, and services has also begun to be a rich source of information for consumers researching a purchase online. This information takes many forms, but a major category is the narrative review describing the purchase and experience. Such reviews are posted on websites such as Yelp, Amazon and TripAdvisor, on apps, and on social media such as Facebook and Twitter. The amount and volume of reviews has ...


Essentials Of A Publication Agreement, Stephen Wolfson, Mariann Burright Dec 2018

Essentials Of A Publication Agreement, Stephen Wolfson, Mariann Burright

Presentations

This session will focus on authors' rights and publishing contracts. When academic publishers agree to publish academic works, they require the authors to sign agreements before doing so. In the past, these “agreements” – contracts, by another name – often have contained provisions that primarily benefit the publishers, including assigning intellectual property rights in the works to the publishers and limiting authors’ abilities to use their works after transferring their rights. Faculty authors often ask librarians for their guidance on how to read and negotiate publication agreements. As such, this session will discuss common provisions found in publishing contracts to help clarify ...


What's In A Licensing Agreement?, Stephen Wolfson, Mariann Burright Nov 2018

What's In A Licensing Agreement?, Stephen Wolfson, Mariann Burright

Presentations

Now that you know the foundations of enforceable contracts, and want to have more familiarity with some nuts and bolts of contract language to become a better negotiator for your institutions, you will want to take this second webinar.
Participants will learn:
• What are the basic provisions or clauses of a contract?
• What do these provisions obligate my institution to do?
• What do these provisions obligate the other party to do?
• What rights does my institution have if the other party breaks its obligations?


Contract Basics For Librarians And Others In Higher Ed, Stephen Wolfson, Mariann Burright Oct 2018

Contract Basics For Librarians And Others In Higher Ed, Stephen Wolfson, Mariann Burright

Presentations

If you have signature or negotiation authority for your institution, and would like to get an overview of contracts to learn what your institution’s rights and obligations may be under a contract, this session is for you! Participants will learn:

• Why it is important to understand how contracts work?
• What does it mean for a contract to be enforceable in a US court?
• How is an enforceable contract formed?
• What could lead to contract breach?


Bankruptcy’S Uneasy Shift To A Contract Paradigm, David A. Skeel Jr., George Triantis Jun 2018

Bankruptcy’S Uneasy Shift To A Contract Paradigm, David A. Skeel Jr., George Triantis

Faculty Scholarship at Penn Law

The most dramatic development in twenty-first century bankruptcy practice has been the increasing use of contracts to shape the bankruptcy process. To explain the new contract paradigm—our principal objective in this Article-- we begin by examining the structure of current bankruptcy law. Although the Bankruptcy Code of 1978 has long been viewed as mandatory, its voting and cramdown rules, among others, invite considerable contracting. The emerging paradigm is asymmetric, however. While the Code and bankruptcy practice allow for ex post contracting, ex ante contracts are viewed with suspicion.

We next use contract theory to assess the two modes of ...


The Best And Worst Of Contracts Decisions: An Anthology, Rachel Arrow-Richman, Daniel D. Barnhizer, Scott J. Burnham, Mark P. Gergen, Charles Calleros, Richard R. Carlson, Larry T. Garvin, Nadelle Grossman, F E. Guerra-Pujol, Jeffrey L. Harrison Jun 2018

The Best And Worst Of Contracts Decisions: An Anthology, Rachel Arrow-Richman, Daniel D. Barnhizer, Scott J. Burnham, Mark P. Gergen, Charles Calleros, Richard R. Carlson, Larry T. Garvin, Nadelle Grossman, F E. Guerra-Pujol, Jeffrey L. Harrison

Faculty Scholarship

No abstract provided.


Combating Discrimination Against The Formerly Incarcerated In The Labor Market, Angela Onwuachi-Willig, Ifeoma Ajunwa Apr 2018

Combating Discrimination Against The Formerly Incarcerated In The Labor Market, Angela Onwuachi-Willig, Ifeoma Ajunwa

Faculty Scholarship

Both discrimination by private employers and governmental restrictions in the form of statutes that prohibit professional licensing serve to exclude the formerly incarcerated from much of the labor market. This Essay explores and analyzes potential legislative and contractual means for removing these barriers to labor market participation by the formerly incarcerated. First, as a means of addressing discrimination by the state, Part I of this Essay explores the ways in which the adoption of racial impact statements — which mandate that legislators consider statistical analyses of the potential impact their proposed legislation may have on racial and ethnic groups prior to ...


Boilerplate’S False Dichotomy, James Gibson Jan 2018

Boilerplate’S False Dichotomy, James Gibson

Law Faculty Publications

The argument against enforcing boilerplate contracts (contracts that no one reads) seems clear. Indeed, if this were a court case we would say that the jury is in; the evidence against boilerplate is overwhelming. Yet the judge has yet to render judgment. Courts continue to enforce boilerplate terms, and even those scholars who have exposed boilerplate as an emperor with no clothes are reluctant to gaze upon its nakedness and condemn its use.

This reluctance originates in an assumption that pervades the boilerplate debate—namely, that courts and commentators alike view boilerplate as necessary to the modern transaction. When asked ...


Keeping Promises And Meeting Needs: Public Charities At A Crossroads, Allison Anna Tait Jan 2018

Keeping Promises And Meeting Needs: Public Charities At A Crossroads, Allison Anna Tait

Law Faculty Publications

When a charitable organization cannot fulfill the terms of a charitable gift agreement, it must decide whether to keep a promise or meet a need. That is to say, a charitable organization can either preserve original donor intent, adhering to conditions placed on a gift, or it can attempt to modify the terms of the gift in order to budget and spend the funds more effectively. If an institution chooses to keep a promise, it might be stuck with a fund it cannot use because of conditions placed on the money at the time of the gift. In order to ...


Bespoke Discovery, Jessica Erickson Jan 2018

Bespoke Discovery, Jessica Erickson

Law Faculty Publications

The U.S. legal system gives contracting parties significant freedom to customize the procedures that will govern their future disputes. With forum selection clauses, parties can decide where they will litigate future disputes. With fee-shifting provisions, they can choose who will pay for these suits. And with arbitration clauses, they can make upfront decisions to opt out of the traditional legal system altogether. Parties can also waive their right to appeal, their right to a jury trial, and their right to file a class action. Bespoke procedure, in other words, is commonplace in the United States.

Far less common, however ...


Relational Contracts Of Adhesion, David A. Hoffman Jan 2018

Relational Contracts Of Adhesion, David A. Hoffman

Faculty Scholarship at Penn Law

Not all digital fine print exculpates liability: some exhorts users to perform before the consumer relationship has soured. We promise to choose strong passwords (and hold them private); to behave civilly on social networks; to refrain from streaming shows and sports; and to avoid reverse-engineering code (or, worse, deploying deadly bots). In short: consumers are apparently regulated by digital fine print, though it’s universally assumed we don’t read it, and even if we did, we’ll never be sued for failing to perform.

On reflection, this ordinary phenomenon is perplexing. Why would firms persist in deploying uncommunicative behavioral ...


The Evolution Of Entrepreneurial Finance: A New Typology, J. Brad Bernthal Jan 2018

The Evolution Of Entrepreneurial Finance: A New Typology, J. Brad Bernthal

Articles

There has been an explosion in new types of startup finance instruments. Whereas twenty years ago preferred stock dominated the field, startup companies and investors now use at least eight different instruments—six of which have only become widely used in the last decade. Legal scholars have yet to reflect upon the proliferation of instrument types in the aggregate. Notably missing is a way to organize instruments into a common framework that highlights their similarities and differences.

This Article makes four contributions. First, it catalogues the variety of startup investment forms. I describe novel instruments, such as revenue-based financing, which ...


Control Of The Attorney-Client Privilege After Mergers And Other Transformational Transactions: Should Control Of The Privilege Be Alienable By Contract?, Grace M. Giesel Jan 2018

Control Of The Attorney-Client Privilege After Mergers And Other Transformational Transactions: Should Control Of The Privilege Be Alienable By Contract?, Grace M. Giesel

Faculty Scholarship

In recent years, parties to mergers and other transformational transactions have begun inserting into their deal documents provisions allocating post-transaction control of the attorney-client privilege for pretransaction communications. The controller of the privilege is the person or entity who decides whether to assert the privilege or, rather, to waive it. Commonly, representatives of the target entity in a merger or representatives of an asset seller in a transformational sale want post-transaction control of the privilege for pre-transaction communications relating to the transaction. They want control of the privilege so the surviving entity cannot access or use those communications against the ...


Commodifying Consumer Data In The Era Of The Internet Of Things, Stacy-Ann Elvy Jan 2018

Commodifying Consumer Data In The Era Of The Internet Of Things, Stacy-Ann Elvy

Articles & Chapters

Internet of Things (“IOT”) products generate a wealth of data about consumers that was never before widely and easily accessible to companies. Examples include biometric and health-related data, such as fingerprint patterns, heart rates and calories burned. This Article explores the connection between the types of data generated by the IOT and the financial frameworks of Article 9 of the Uniform Commercial Code and the Bankruptcy Code. It critiques these regimes, which enable the commodification of consumer data, as well as laws aimed at protecting consumer data, such as the Bankruptcy Abuse Prevention and Consumer Protection Act, various state biometric ...


Interpretation And Construction In Contract Law, Gregory Klass Jan 2018

Interpretation And Construction In Contract Law, Gregory Klass

Georgetown Law Faculty Publications and Other Works

Interpretation determines the meaning of a legal actor’s words and actions, construction their legal effect. Although the interpretation-construction distinction has a long pedigree, contract scholars today rarely attend to it, and the relationship between the two activities remains understudied. This Article provides an account of the interplay between interpretation and construction in contract law.

It begins with the history of the concepts, focusing on the works of Lieber, Williston and Corbin. It adopts Corbin’s complimentary conception, according to which interpretation alone never suffices to determine speech act’s legal effects; a rule of construction is always required. The ...


The Price Of Law: The Case Of The Eurozone's Collective Action Clauses, Elena Carletti, Paolo Colla, Mitu Gulati, Steven Ongena Jan 2018

The Price Of Law: The Case Of The Eurozone's Collective Action Clauses, Elena Carletti, Paolo Colla, Mitu Gulati, Steven Ongena

Faculty Scholarship

Do markets value contract protections? And does the quality of a legal system affect such valuations? To answer these questions we exploit a unique experiment whereby, after January 1, 2013, newly issued sovereign bonds of Eurozone countries under domestic law had to include Collective Action Clauses (CACs) specifying the minimum vote needed to modify payment terms. We find that CAC bonds trade at lower yields than otherwise similar no-CAC bonds; and that the quality of the legal system matters for this differential. Hence, markets appear to see CACs as providing protection against the legal risk embedded in domestic-law sovereign bonds.


What Did They Know And When Did They Know It? Pretesting As A Means Setting A Baseline For Assessing Learning Outcomes, Jeffrey L. Harrison Jan 2018

What Did They Know And When Did They Know It? Pretesting As A Means Setting A Baseline For Assessing Learning Outcomes, Jeffrey L. Harrison

UF Law Faculty Publications

Are legal rules intuitive or, at least, consistent with common sense? In this study, 260 law students at five law schools who had not taken contract law, were presented with eight questions based on specific contracts cases or common contracts issues. They were asked what they felt was the fair or right answer to each question and to formulate the rule they would apply. The purposes of the study were to 1) determine whether contract law is what the untrained person believes it is or should be and 2) experiment with a strategy of pretesting to determine what topics within ...


Markets And Morals: The Limits Of Doux Commerce, Mark L. Movsesian Jan 2018

Markets And Morals: The Limits Of Doux Commerce, Mark L. Movsesian

Faculty Publications

In this essay for a symposium on Professor Nathan Oman's new book, The Dignity of Commerce, I do three things. First, I describe what I take to be the central message of the book, namely, that markets promote liberal values of tolerance, pluralism, and cooperation among rival, even hostile groups. Second, I show how Oman's argument draws from a line of political and economic thought that dates to the Enlightenment, the so-called "doux commerce" thesis of thinkers like Montesquieu and Adam Smith. Finally, I discuss what I consider the most penetrating criticism of that thesis, Edmund Burke's ...


Boca Park Marketplace Syndications Grp., L.L.C. V. Higco, Inc., 133 Nev. Adv. Op. 114 (Dec. 28, 2017), Tamara Cannella Dec 2017

Boca Park Marketplace Syndications Grp., L.L.C. V. Higco, Inc., 133 Nev. Adv. Op. 114 (Dec. 28, 2017), Tamara Cannella

Nevada Supreme Court Summaries

The Court held the declaratory judgment exception to claim preclusion applies when the initial action sought only declaratory relief.


Reconsidering Contractual Consent: Why We Shouldn't Worry Too Much About Boilerplate And Other Puzzles, Nathan B. Oman Oct 2017

Reconsidering Contractual Consent: Why We Shouldn't Worry Too Much About Boilerplate And Other Puzzles, Nathan B. Oman

Faculty Publications

Our theoretical approaches to contract law have dramatically over-estimated the importance of voluntary consent. The central thesis of this article is that voluntary consent plays at best a secondary role in the normative justification of contract law. Rather, contract law should be seen as part of an evolutionary process of finding solutions to problems of social organization in markets. Like natural evolution, this process depends on variation and feedback. Unlike natural evolution, both the variation and the feedback mechanisms are products of human invention. On this theory, consent serves two roles in contract law. First, consent makes freedom of contract ...


Amending Corporate Charters And Bylaws, Albert H. Choi, Geeyoung Min Aug 2017

Amending Corporate Charters And Bylaws, Albert H. Choi, Geeyoung Min

Faculty Scholarship at Penn Law

Recently, courts have embraced the contractarian theory that corporate charters and bylaws constitute a “contract” between the shareholders and the corporation and have been more willing to uphold bylaws unilaterally adopted by the directors. This paper examines the contractarian theory by drawing a parallel between amending charters and bylaws, on the one hand, and amending contracts, on the other. In particular, the paper compares the right to unilaterally amend corporate bylaws with the right to unilaterally modify contract terms, and highlights how contract law imposes various limitations on the modifying party’s discretion. More generally, when the relationship of contracting ...


Solid V. Eighth Judicial Dist. Court, 133 Nev. Adv. Op. 17 (Apr. 27, 2017), Hunter Davidson Apr 2017

Solid V. Eighth Judicial Dist. Court, 133 Nev. Adv. Op. 17 (Apr. 27, 2017), Hunter Davidson

Nevada Supreme Court Summaries

The Court interpreted Nevada Supreme Court Rules (“SCR” or the “Rules”) on Electronic Coverage of Court Proceedings: (1) My Entertainment TV (MET) is a “news reporter” under SCR 229(1)(c) because it collects, edits, and publishes footage concerning local events for public dissemination; (2) Clark County court proceedings footage has the educational or informational purpose required by SCR 241; (3) camera presence in the court room alone does not overcome the presumption permitting electronic recording of court proceedings under SCR 230; and (4) contract provisions must be read together, and the result should comport with the SCR on electronic ...


Convergence Between Australian Common Law And English Common Law: The Rule Against Penalties In The Age Of Freedom Of Contract, Man Yip, Yihan Goh Mar 2017

Convergence Between Australian Common Law And English Common Law: The Rule Against Penalties In The Age Of Freedom Of Contract, Man Yip, Yihan Goh

Research Collection School Of Law

This note discusses the High Court of Australia decision of Paciocco v Australia and New Zealand Bank Group Limited on the rule against penalty clauses and situates its importance in light of the UK Supreme Court decision of Cavendish Square Holding BV v Talal El Makdessi and Beavis v ParkingEye Ltd.
It compares the analytical frameworks laid down in the two cases and
points out some unresolved issues in this area of law even following
these cases.


Rise Of The Digital Regulator, Rory Van Loo Mar 2017

Rise Of The Digital Regulator, Rory Van Loo

Faculty Scholarship

The administrative state is leveraging algorithms to influence individuals’ private decisions. Agencies have begun to write rules to shape for-profit websites such as Expedia and have launched their own online tools such as the Consumer Financial Protection Bureau’s mortgage calculator. These digital intermediaries aim to guide people toward better schools, healthier food, and more savings. But enthusiasm for this regulatory paradigm rests on two questionable assumptions. First, digital intermediaries effectively police consumer markets. Second, they require minimal government involvement. Instead, some for-profit online advisers such as travel websites have become what many mortgage brokers were before the 2008 financial ...


In Defense Of The Restatement Of Liability Insurance Law, Tom Baker, Kyle D. Logue Jan 2017

In Defense Of The Restatement Of Liability Insurance Law, Tom Baker, Kyle D. Logue

Faculty Scholarship at Penn Law

For most non-contractual legal claims for damages that are brought against individuals or firms, there is some form of liability insurance coverage. The Restatement of the Law Liability Insurance is the American Law Institute’s first effort to “restate” the common law governing such liability insurance policies, and we are the reporters. In a recent essay funded by the insurance industry, Yale Law Professor George Priest launched a strident critique of the Restatement project, arguing that the rules adopted in the Restatement:

(a) are radically contrary to existing case law,

(b) have a naïve “pro-policyholder” bias that ignores basic economic ...


Why Flexibility Matters: Inequality And Contract Pluralism, Jeremiah A. Ho Jan 2017

Why Flexibility Matters: Inequality And Contract Pluralism, Jeremiah A. Ho

Faculty Publications

In the decade since the Great Recession, various contract scholars have observed that one reason the financial crisis was so “great” was due in part to contract law—or, more precisely, the failures of contract law for not curbing the risky lending practices in the American housing market. However, there is another reason why contracts made that recession so great: contracts furthered inequality. In recent years, when economic inequality has become a dominant national conversation topic, we can see development of that inequality in the Great Recession. And indeed, contract law was complicit. While contractual flexibility and innovation were available ...


Who Needs Contracts? Generalized Exchange Within Investment Accelerators, Brad Bernthal Jan 2017

Who Needs Contracts? Generalized Exchange Within Investment Accelerators, Brad Bernthal

Articles

This Article investigates why an expert volunteers on behalf of startups that participate in a novel type of small venture capital (“VC”) fund known as a mentor-driven investment accelerator (“MDIA”). A MDIA organizes a pool of seasoned individuals – called “mentors” – to help new companies. An obvi- ous organizational strategy would be to contract with mentors. Mentors in- stead voluntarily assist. Legal studies of norm-based exchanges do not explain what this Article calls the “mentorship conundrum”—i.e., the puzzling moti- vation of a mentor to volunteer within otherwise for-profit environments. This Article is the first to bridge the insights of ...


Sovereign Debt And The “Contracts Matter” Hypothesis, W. Mark C. Weidemaier, Mitu Gulati Jan 2017

Sovereign Debt And The “Contracts Matter” Hypothesis, W. Mark C. Weidemaier, Mitu Gulati

Faculty Scholarship

The academic literature on sovereign debt largely assumes that law has little role to play. Indeed, the primary question addressed by the literature is why sovereigns repay at all given the irrelevance of legal enforcement. But if law, and specifically contract law, does not matter, how to explain the fact that sovereign loans involve detailed contracts, expensive lawyers, and frequent litigation? This Essay makes the case that contract design matters even in a world where sovereign borrowers are hard (but not impossible) to sue. We identify a number of gaps in the research that warrant further investigation.


Arrested Development: Rethinking The Contract Age Of Majority For The Twenty-First Century Adolescent, Wayne Barnes Jan 2017

Arrested Development: Rethinking The Contract Age Of Majority For The Twenty-First Century Adolescent, Wayne Barnes

Faculty Scholarship

The contract age of majority is currently age 18. Contracts entered into by minors under this age are generally voidable at the minor’s option. This contract doctrine of capacity is based on the policy of protecting minors from their own poor financial decisions and lack of adultlike judgment. Conversely, the age of 18 is currently set as the arbitrary age at which one will be bound to her contract, since this is the current benchmark for becoming an “adult.” However, this article questions the accuracy of age 18 for this benchmark. Until comparatively recently, the age of contract majority ...